Facebook to file IPO documents soon as Wednesday: report

By IBT Staff Reporter On 01/27/12 AT 4:08 PM

Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world's largest social network at between $75 billion and $100 billion, the Wall Street Journal cited unidentified sources as saying on Friday.

Morgan Stanley and Goldman Sachs are expected to lead what would be one of the largest initial public offerings in U.S. history, the Journal cited its sources as saying.

Facebook was not immediately available for comment.

The impending IPO -- expected to raise $10 billion -- is a prized trophy for investment banks, setting up a fierce competition on Wall Street, particularly between the presumed front-runners Morgan Stanley and Goldman Sachs.